i think what we are facing is not simply the debt ceiling. what we are facing is the sequestration, the automatic cuts of a trillion dollars over 10 years, which many republicans are expressing a willingness now to let set in at the end of march. that would mean another fight and struggle. >> all this will unfold in six months probably. not a year from now. he is in a good position to fight for the next six months. >> there was an interesting and little-noticed thing this week. the economic numbers in britain came out where they have had a very tough, brave austerity program, and now they are possibly entering into a triple dip recession. it is an example, perhaps, of too much austerity. france may be an example of too much non-austerity. but if we go through sequester, people will actually see what those cuts mean. i suspect there will be a rebellion over it. >> you could hardly accuse the united states of indulging in too much austerity. we have added $5 trillion of debt in four years. that would be a new definition of austerity. >> i am no